OP Crypto, a cryptocurrency venture capital firm founded by former Huobi executive David Gan, is launching a new fund to support emerging fund managers focused on early-stage crypto investments.
Named “OP Funds of Funds I,” the fund has secured $50 million in commitments from major companies like FTX’s investment subsidiary LedgerPrime and FJ Labs.
The OP FoF I will target a hard cap of $100 million, with founders planning to close out the fund by the end of Q3, OP Crypto’s chief operating officer Lucas He told Cointelegraph.
The fund will work on identifying and supporting crypto fund managers with unique vertical expertise in areas like infrastructure, decentralized finance, nonfungible tokens, metaverse, gaming and others.
While the fund has a “differentiated focus” on the Asia-Pacific region, it will continue to invest on a global scale and seek to get exposure to fund managers in regions like Latin America, Africa, India, Southeast Asia and others, He noted.
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